Norwest Leads Major Investment in IKF Finance
Norwest has led a significant Rs 1,465-crore investment in Hyderabad-based IKF Finance through primary and secondary transactions. This fundraise, featuring contributions from Accion and Motilal Oswal PE, aims to enhance IKF's financial services reach, benefiting underserved communities. Key areas of focus include technology, distribution, and human capital development.
- Country:
- India
Private equity fund Norwest has announced a landmark investment of Rs 1,465 crore in Hyderabad-based non-bank lender IKF Finance. The fund's involvement includes both primary share issuances and secondary transactions.
Leading the round with an Rs 850 crore investment, Norwest has been joined by existing investors Accion and Motilal Oswal Private Equity. Founded in 1991, IKF Finance operates across nine states, focusing on secured retail loans and credit for small businesses.
The company aims to utilize the funds to accelerate financing, advance its distribution and technology efforts, and invest in human resources, enhancing financial solutions for underserved communities in India.
(With inputs from agencies.)
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